Loanbus - Small Loan Platform
Loanbus is a small loan platform that provides necessary financial support with data security and high-quality service. It is a free Android application that falls under the Business & Productivity category and Finance subcategory. The platform offers loans ranging from Rs 2,000 to Rs 20,000 for a duration of 100 days to 180 days. Loanbus charges an annual interest rate of 13% to 33% with a maximum Annual Percentage Rate (APR) of 33%, and there are no hidden fees on your loan.
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The loan repayment process is transparent and straightforward. For instance, a user taking a loan of Rs 5,000 at an interest rate of 20% per annum for 100 days will have to pay a daily interest of Rs 2.74, making the total interest Rs 274. The daily repayment amount will be Rs 52.74, and the total repayment will be RsLoanbus also allows monthly repayment, and the repayment amount is calculated based on the number of days in that month.
Loanbus has specific requirements that need to be met before applying for a loan. The applicant must be a local resident of India, over 23 years old, have no criminal record, have good credit, and possess a personal mobile phone number and bank card.